Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS AND NATIONAL BANK OF THE REPUBLIC OF BELARUS

of December 29, 2006 No. 1753/22

About the approval of the Procedure for issue, the address and bond redemption emitted by banks

(as amended on 14-09-2016)

For the purpose of implementation of the Presidential decree of the Republic of Belarus of August 28, 2006 No. 537 "About issue of bonds by banks" Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus POSTANOVLYAYUT:

1. Approve the enclosed Procedure for issue, the address and bond redemption emitted by banks.

2. This resolution becomes effective from the date of its official publication.

Prime Minister of the Republic of Belarus

S. Sidorsky

Chairman of the board of National Bank of the Republic of Belarus

P. Prokopovich

Approved by the Resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of December 29, 2006, No. 1753/22

Procedure for issue, the address and bond redemption emitted by banks

1. This Procedure regulates features of issue, the address and bond redemption emitted by the banks performing in accordance with the established procedure attraction of money of physical persons into accounts and (or) in deposits (deposits) (further - emitting banks), and provided with right to claim on the credits issued by banks on construction, reconstruction or acquisition of housing on the security of the real estate (further - bonds).

2. Bonds are emitted by emitting bank in coordination with National Bank.

The funds raised by emitting banks by bond emission go for refinancing earlier issued and issue of the new credits for construction, reconstruction or acquisition of housing on the security of the real estate.

Bonds are emitted in paperless form.

3. Before decision making about bond issue the bank creates according to this Procedure structure of ensuring obligation fulfillment on bonds.

4. Ensuring obligation fulfillment on bonds are rights to claim against legal and (or) physical persons on the credits for construction, reconstruction or acquisition of housing on the security of the real estate issued by emitting banks and acquired by emitting banks under the contract of assignment of the requirement (further - obligations according to credit agreements).

5. Ensuring obligation fulfillment on bonds is not included (are excluded from this structure) obligations according to credit agreements according to which:

execution delay is in accordance with the established procedure provided (for the period of delay provision);

the term of non-execution (improper execution) constitutes more than three months in a row during inclusion of such obligations in structure of ensuring obligation fulfillment on bonds. At the same time inclusion in structure of ensuring obligation fulfillment on bonds of the obligations which are not performed more than a month on the date of their inclusion in structure of ensuring obligation fulfillment on bonds is not allowed;

the pledge subject is lost;

the judgment about recognition invalid or the termination on other bases of the right of pledge to real estate took legal effect;

the rights of the pawnbroker and the pledger are certified by the mortgage;

the debtor is acknowledged economically insolvent or the bankrupt according to the procedure, established by the legislation on economic insolvency (bankruptcy);

completion date expires less than in 12 months after repayment date of bonds.

6. The same obligations according to credit agreements are included ensuring obligation fulfillment on bonds only of one release.

7. The obligation according to the credit agreement constituting ensuring obligation fulfillment on bonds is confirmed by availability at emitting bank:

the credit agreement based on which there was obligation provided with pledge of the real estate, or its copies;

agreements on mortgage or its copy, except for the mortgage arising based on the act of the legislation;

certificates (certificate) of state registration of creation, change, the termination of existence of real estate, origin, transition, the termination of the rights, restrictions (encumbrances) of the rights to real estate, its copies, or the statement from the registration book.

8.  No. 718/24 is excluded according to the Resolution of Council of Ministers of the Republic of Belarus and National Bank of the Republic of Belarus of 14.09.2016

9. According to the procedure, stipulated by the legislation, the emitting bank has the right to make complete or partial replacement of the corresponding obligations according to credit agreements, including for the purpose of improvement of structure of ensuring obligation fulfillment on bonds for prevention of emergence of the bases provided in Item 5 of this Procedure or in case of early repayment of obligations according to credit agreements.

If the amount of bond issues for any date before their repayment (early repayment) will exceed 70 percent of the main amount of debt on the credits issued on construction, reconstruction or acquisition of housing on the security of the real estate including on the bases provided in paragraphs the second - pole of Item 5 of this Procedure, the emitting bank within two months from the date of emergence of such excess shall make replacement of obligations according to credit agreements in stipulated by the legislation procedure or take measures for repayment of the part of bond issue on difference amount which arose between the total amount of bond issue and 70 percent of the main amount of debt on the credits issued on construction, reconstruction or acquisition of housing on the security of the real estate.

10. The emitting bank has the right to exclude part of obligations according to credit agreements from structure of ensuring obligation fulfillment on bonds in connection with discharge of emitting bank of bonds as a result of their early repayment if the amount of the rest of bond issue will not exceed 70 percent of the main amount of debt on the credits issued on construction, reconstruction or acquisition of housing on the security of the real estate.

11. For accounting of ensuring obligation fulfillment on bonds by the emitting bank creates and kept the register of obligations according to credit agreements.

Obligations according to credit agreements are considered included in structure of providing bonds from the date of entering of the corresponding record by emitting bank into the register of obligations according to credit agreements.

12. The register of obligations according to credit agreements is kept by emitting bank on paper and (or) in electronic form according to the procedure, it determined.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.